Additionally, Berkadia Senior Director Brad Williamson and Director Jared Hill have arranged a $19.2 million acquisition loan on behalf of the borrower, One Real Estate Investment. The seven-year, fixed-rate Freddie Mac Green Up loan has a 75 percent loan-to-value ratio.

“The property was last traded in 2014 for $12.9 million and was sold for a considerable gain, thanks to property improvements and renovations carried out by the previous owner and South Florida’s competitive multifamily market,” Yuhjtman said in a prepared statement.

Located at 2425 Second Ave. N., Oakwood Apartments is close to Interstate 95 and within 10 miles of downtown West Palm Beach. Retail, dining and entertainment venues are within a five-minute drive in Palm Springs Plaza.

Townhome community

Completed in 1993, the 160 four-bedroom and 1,252-square-foot units of the community are spread across 15 buildings. Common-area amenities include swimming pool, clubhouse, business center, fitness center and playground. According to Yardi Matrix data, the property was 95.6 percent occupied at the time of sale, with rents ranging from $1,500 to $1,700 for renovated units.